There are many disturbing facts in this story but the one that struck me is this one: “Armed with these judgments, plaintiffs — typically debt buyers, banks, hospitals, utilities, and auto and high-cost lenders — have seized at least $34 million from residents of St. Louis’ mostly black neighborhoods through suits filed between 2008 and 2012.”
This investigative article is worth the read. It also contains a survey link to get information about people’s experiences with debt collection as well as an interactive map to see the Black neighbhorhoods that are hit the hardest. Black folks can barely stay above water, let alone accumulate wealth, with the kind of draconian collection laws in place here in the State of Misery and the aggressive practices of collectors. This is separate from the millions being sucked out black folks’ pockets with the racist, exploitive municiple courts system. It is criminal.
Now close your eyes and think about what those families could’ve done with that $34 million.